Turkish Treasury borrows over $1B through auctions

Turkish Treasury borrows over $1B through auctions

Treasury and Finance Ministry holds 2 auctions to borrow from domestic markets

By Yunus Girgin

ANKARA (AA) – The Turkish Treasury borrowed around 8.68 billion Turkish liras (some $1 billion) from domestic markets, according to an official statement on Monday.

The Treasury and Finance Ministry announced that 5.55 billion Turkish liras ($643 million) in four-year fixed coupon rate government bonds were sold on Monday.

The total tender amounted to 8.21 billion Turkish liras ($951.7 million), with a 67.6% accepted/tendered rate.

The Treasury said the term rate of the 1,575-day government bonds was accepted at 9.26%, while the annual simple and compound interest rates were 18.52% and 19.38%, respectively.

The Treasury bills will be settled on Wednesday and mature on Oct. 1, 2025.

In a second auction, the Treasury issued 10-year CPI-indexed government bonds – the first issue, semiannually – totaling 3.13 billion Turkish liras ($360 million).

According to the ministry, the total tender in the second auction amounted to 4.94 billion Turkish liras ($570 million), with a 63.3% accepted/tendered rate.

The term rate of the 3,640-day government bonds was accepted at 1.59% of the periodic interest rate, while the annual simple and compound interest rates were 3.19% and 3.21%, respectively.

The bills will be settled on Wednesday and mature on May 28, 2031.

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